Profit Maximization-Labor
Can someone help me in finding out the right answer from the given options. All the profit maximizing organizations employ labor up to the point where: (w) MR MC is maximized. (x) VMP = MFC. (y) VMP = MRP. (z) MRP = MFC.
While a price hike yields a decline within total revenue, in that case the demand faced through the producing firm: (w) relatively elastic. (x) relatively inelastic. (y) unitarily elastic. (z) inferior. Can anybody
When the minimum amounts of food, clothing and shelter essential for survival absorb all of a family’s income, in that case the family is experiencing: (w) relative poverty. (x) economic shock. (y) financial destitution. (z) absolute poverty.
Kelly spends his whole food budget on steak and doughnuts, and could trade 2 pounds of steak for 4 doughnuts devoid of changing his level of satisfaction. When the price of doughnuts is 50 cents and steak is $2.00 per pound, Kelly will most likely adjust by: (i) Incre
Utility: The wants satisfying power of a commodity is termed as utility.
Competitive firms determine this difficult to exploit consumers as: (w) consumer boycotts generate bad publicity. (x) market distributions of products are uniformly fair. (y) government price ceilings equivalent opportunity costs. (z) prices that exceed costs attract
Jane consumes only apples and chocolate. She is always willing to trade 1piece of chocolate for exactly 3 apples. Her income is $200. She can buy apples for $1 each and chocolate for $2 per piece.a. To Jane, apples and chocolate are (circle 1):
Economic profits produce competitive pressures which raise the industries: (w) price for output. (x) output and number of firms. (y) exit rate for established firms. (z) monopoly power in its largest firms. Hey fri
A monopolist operates in two separated markets. The inverse demand functions ofthose markets are given by and where arethe quantities supplied to these markets, respectively. The total cost function facedby the monopolist is &nbs
Can someone help me in finding out the right answer from the given options. In short run for a competitive market, a raise in the supply will generally: (1) Raise demand. (2) Not affect the equilibrium price. (3) Lower equilibrium price. (4) Increase equilibrium price
Government banks function: The central bank conducts the banking account of the government departments. This performs similar banking functions for the government as commercial bank executes for its customers. This accepts their deposits and undertake
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